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PM Barzani Encourages US Companies to Invest in Kurdistan

Kurdistan Region Prime Minister Masrour Barzani has encouraged the US companies to start investing in the autonomous region, reaffirming that the regional government welcomes international investment in all the sectors of its economy.

Barzani made the remarks during a virtual conference on Post COVID-19 Economic Priorities in the Kurdistan Region, on Monday, sponsored by the US Chamber of Commerce, which aimed at encouraging foreign investment in the Kurdistan Region, particularly from US companies, with the participation of high-level officials from, the Kurdistan Region, Iraq, and the United States.

"We are working hard to diversify our economy, through privatization of parts of agriculture and electricity sectors. We are making it easier to do business by digitising important aspects of our government," the Kurdish premier said.

"I am pleased to announce recent progress Dan Brouillette and I have made on a number of fronts in this sector to unlock greater US investment. We welcome international investment in all sectors of our economy."

Barzani further noted that his cabinet is also working on reducing the"red tape to ensure that foreign investors are able to complete the necessary procedures more quickly and more easily — from company registrations to visa regulations and permits."

He also revealed that the KRG expects to sign a "major" deal this week that will be the foundation of its digital transformation agenda to bring the public and government services to the fingerprints of citizens, businesses, and government bodies.

"We have a young, dynamic and highly educated workforce. Our young people are digitally literate and innovative. My goal is not only to give our people much-needed jobs but to provide them the tools necessary to unlock their entrepreneurial spirit," he continued.

The prime minister explained that the investment of US companies in the Kurdistan Region is in the public interest, adding that "we are working on developing the agricultural, industrial, and commercial sectors, and we intend to use technology in the agricultural sector."

The Kurdish leader, in the meantime, hoped that Erbil and Washington will also improve cooperations in the fields of economy, energy, health, education, and culture in 2021.

The Kurdistan Region is a very good gateway for US investors, which also makes it a great gateway to Iraq and the Middle East, Barzani added.

The premier additionally reviewed a number of projects completed in the midst of crises, and said that his government is proud to construct many bridges and highways through the partnership between the private and public sectors, despite the economic crisis caused by the coronavirus pandemic.

He further addressed foreign investors and said: "I hope that you will take this opportunity to visit the Kurdistan Region and see for yourself the changes made by the ninth ministerial formation."